Parl logjam to end; Govt puts FDI decision on backburner

Published: Wednesday, December 7, 2011, 11:15 [IST]

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New Delhi, Dec 7: Stepping back to break the logjam in Parliament, the government on Wednesday put the controversial decision on FDI in retail on the backburner till a consensus is evolved, a proposal the entire opposition and the dissenting allies accepted without reservation.

At an all-party meeting concened by him this morning, Leader of the House in Lok Sabha and Finance Minister Pranab Mukherjee said the government would move a proposal in Parliament stating, "The decision to permit 51 per cent FDI in multi-brand retail will be suspended till a consensus is developed through consultations with various stakeholders."

Moreover, both Houses will adopt government resolution suspending 51 per cent FDI in retail 'till a consensus is developed through consultations with various stakeholders'.

CPI says this decision by the government is a 'virtual rollback' of the FDI decision; and they will allow Parliament to function.

In a statement to the Lok Sabha, Finance Minister Pranab Mukherjee said decision on FDI in retail suspended till consensus was reached through consultations with stakeholders including political parties and states